Author Question: The government (G) category of gross domestic product (GDP) excludes welfare and other transfer ... (Read 73 times)

biggirl4568

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The government (G) category of gross domestic product (GDP) excludes welfare and other transfer payments.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The pre-Keynesian or classical economic theory viewed the long-run aggregate supply curve for the economy to be:
 a. horizontal at the full-employment level of real GDP.
  b. positively sloped at the full-employment level of real GDP.
  c. vertical at the full-employment level of real GDP.
  d. backward bending at the full-employment level of real GDP.



Bsand8

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Answer to Question 1

True

Answer to Question 2

c



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